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Non-Tech : LEH LEHMAN BROTHERS -- Ignore unavailable to you. Want to Upgrade?

To: Larry Abrams who wrote (263)	9/21/1998 12:28:00 AM
From: Moominoid	Read Replies (2) \| Respond to of 315

This rumor was a few days back and was denied by the firm. The price is still pretty high if that was a real possibility. I would say that the price now reflects discounted earnings using the CAPM model pretty fairly if one takes current analyst predictions which have been showing declining earnings for quite a while now. In fact most finance stocks (eg. big banks) now look fair value to me unless earnings will be dramatically downgraded. It's only the tech sector (DELL, MSFT etc.) which seems overpriced now. David